Black Friday is just around the corner, and we can’t wait to see how the day plays out.
Black Friday and Cyber Monday 2022 was set to be a rollercoaster with Covid-19 restrictions easing, but guess what? It turned out to be the biggest online sales day ever! Record-breaking revenues for everyone!
We’re about to dig deep into why the day was so successful and what learnings we can take into our 2023 strategies.
Why is Black Friday and Cyber Monday so important in the marketing calendar
Before we spill the beans on 2022, let’s get into what Black Friday really is.
Spanning from November 24th to November 27th, this weekend extravaganza features substantial discounts, with Black Friday catering to both in-store and online sales the day after Thanksgiving, while Cyber Monday zeroes in on online sales the following Monday.
Black Friday and Cyber Monday are highly competitive times in the retail industry. Companies compete to offer the most attractive deals and promotions, which can give them a competitive advantage and help them stand out in a crowded marketplace.
It’s a shopping spree that could really level up your advertising game if done correctly.
How many people shop online on Black Friday?
The largest group of consumers spending last year were 25-34-year-olds, followed by 35-44-year-olds which could indicate the rise in mobile shopping we saw last year. 78% of online sessions happened on those handy little devices, with 73% of online sales purchased using a mobile device.
Online shopping sessions hit their peak between 10:00 a.m. and 11:00 a.m, with 10am being the peak time for Add-To-Cart rates on Black Friday. Whether commuting, taking a coffee break or desk shopping it was clear that shoppers were taking advantage of early morning deals.
But what’s behind this surge? The rise of mobile shopping plays a part, as consumers can easily sneak in some retail therapy during their mid-morning coffee break. So, if you want to capture those peak shoppers, make sure your website is mobile-friendly and loaded with irresistible deals during this crucial window.
But it’s not just about mobile. Shoppers are becoming savvier. They research, compare, and demand seamless experiences. To stay ahead, businesses must embrace innovation and meet their customers where they are.
Do consumers tend to shop more offline or online?
E-commerce is booming, but it hasn’t killed offline sales. In fact, footfall increased by 9.3% in shopping centers and high streets during Black Friday 2022. Retail therapy lives on!
72.9 million people shopped in-store on Black Friday in 2022. This was up from 66.5 million in 2021, suggesting more individuals’ confidence in shopping in-store as the pandemic restrictions eased.
With restrictions no longer holding shoppers back as we enter the 2023 Black Friday period, businesses should continue to enhance their in-store experiences to complement their online efforts. Working in tandem, your advertising should compliment both experiences, directing people to stores for exclusive deals and again pushing to the web with ‘scannable’ promotions in store.
Will people be spending big this Black Friday?
With the cost of living soaring, we were curious about the cash flow during Black Friday 2022. Guess what? Online spending averaged £125.43 per shopper, a £17.33 jump from the previous year.
This increased spending per session suggests that some consumers were more focused on quality over quantity. They were willing to invest in higher-value items, making Black Friday 2022 a lucrative opportunity for businesses with premium products.
This unexpected surge in spending also indicates that despite rising prices, consumers were determined to make the most of the deals offered on Black Friday. Businesses need to stay agile and prepare for future events by strategizing how to cater to deal-hungry shoppers.
However, retailers like Amazon saw searches for AmazonBasics products increase revenue by 135% – suggesting with the cost of living crisis looming over consumers at the end of last year, we may see this trend follow suit into 2023 where inflation is hitting harder.
What were the most popular products and retailers on Black Friday?
Home appliances and fashion were big hits, but the bestsellers varied depending on the retailer. Boots broke records with an 18% boost in online sales, with over 18,000 products discounted for Black Friday.
John Lewis, which had 5,000 Black Friday offers for customers, said shoppers had ordered 5.5 products every second throughout the day and that in-store shopping was equally busy throughout the morning.
39% of Brits bought a Black Friday promotional item on Amazon during Black Friday last year. Amazon also rocketed sales with Echo Dots and Fire TV Sticks with customers having supported small businesses through the holiday shopping weekend, generating more than $1 billion in sales for small businesses in the U.S.
What were people searching for on Black Friday?
The top three keywords last year included ‘Black Friday Deals’ with a search volume of 90,500, ‘Amazon Black Friday Deals’ with a search volume of 14,800 and ‘John Lewis Black Friday Deals’ with a search volume of 12,100. Although these were all down in 2021.
However, search trends revealed a drop in Black Friday queries compared to last year. What’s the takeaway? Retailers, it’s time to revamp your online presence. Think SEO, think user-friendly websites, think valuable content!
The reduced search volume means that retailers need to up their digital marketing game. Search Engine Optimization (SEO) is key. Optimise your website, create engaging content, and ensure it’s easy for potential customers to find you in the vast online jungle.
Arke’s Key Black Friday 2022 Stats
Despite being our first Black Friday, Shay & Blue trusted us as their strategic partner. We ran a six-week campaign prior to the four-day Black Friday sales, which saw Shay & Blue sell out of their products.
With a 1009% ROAS, the campaign resulted in a record-breaking period of online trading for Shay & Blue, revenue attributed to Paid Media increased by 244.59%, generating their biggest month in online revenue in a single week.
Vital to success, we integrated the campaign into all owned media; first touchpoint to website. Our foreplanning, strategy and execution increased awareness of the niche brand, while competing with major labels and retailers.
Shay & Blue view us as their strategic partner – the direction we plan to develop with more clients this year. The sweet scent of success!
Ready for 2023?
As we wrap up this Black Friday extravaganza, remember this: To thrive in the world of Black Friday madness, businesses need to adapt to changing shopping habits and optimise their online presence.
The world of retail is ever-changing, and those who stay agile and innovative will come out on top. At Arke, we are experts in paid media and have all the tricks under our sleeve to boost your online revenue!
Get in touch with an Arkenaut today to start leveraging your campaigns just in time for Black Friday.